All Forum Posts by: Drew Vukov

Very very fast. I have a two bedroom I rent out in the south shore. I've never had it vacant more than a week. And that's it hour using any public listing services. There's really not enough rental housing in suburban Long Island and rents are high. The high home prices force people to save a few more years than other areas.

No, other home purchases you make won't effect your VA loan entitlement.

Can you get an FHA loan on a 5 unit?

Joe Villeneuve I wonder if you could expand a little on your strategy for me? I'm interested in doing the same. I have 3 properties now with loans on them. It's my understanding that after 4 you can't do a cash out refi, is that not correct? What are your options after 10?

The appraiser is different than the inspector. VA appraiser is just a regular appraiser who is trained to complete an appraisal that conforms to what the VA wants. Inspector is separate. I don't know if one is required for you, but I suggest getting one.

Great, thanks. message sent.

There are a lot of calculators on here to help analyze REI. Is there on for buy a property (4fam) with a conventional mortgage, doing the rehab, renting it out, and doing a cash out refi all in one?

I'm looking at a possible 4 family for purchase. Asking is 45k. I haven't been on site yet but I believe it is in good enough shape to pass an inspection and qualify for conventional financing and put down 25% at around 5.5% interest rate. This is just an assumption at this point but let say it could need anywhere from 22k to 30k in rehab, with an ARV of about 95K. Fully rehabbed and rented on the conservative side gross rents should be 1600 a month. Then I would look to do a cash out refi of possibly 70% LTV.

So any models out there?

No.

You have to take the depreciation of the property it doesn't matter what your income is. The depreciation will reduce the taxable base of the income received. The CPA is probably taking about using depreciation and expenses against the properties passive income to show a paper loss. Once your household earned income hits 150k you lose the ability to use passive losses to reduce your W2 income. But the depreciation can still be used against the income earn from that property.

Jay Hinrichs that's great!